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More ouzo for the Sheriff please: IQE tries to polish turd with sleight of hand as it serves up yet another warning
Can you spot the sleight of hand here?- By Tom Winnifrith
- 2023-01-16 13:28:39
IQE plc (IQE) has announced results for the first half of 2022, arguing “the business has demonstrated resilience” and “strong progress” against its strategic transformation goals. Really?
Drew Nelson is the scumbag who as CEO of IQE (IQE) persuaded thirsty share bloggers and other gullible souls that his low grade commodity business, based in the rain sodden, post industrial, covid ridden, second world wastelands of South Wales which never generated a cent of cash was somehow a great growth stock. That justified paying Drew a vast salary but that was not enough to sate his greed.
IQE plc (IQE) has announced it has filed a lawsuit in the U.S. Federal Court in California, stating it has “significant evidence” that Tower Semiconductor misappropriated IQE's trade secrets to unlawfully obtain patents on IQE's technology. Tower Semiconductor is a US-listed (Nasdaq - TSEM) circa $5 billion capitalised company which giant Intel is currently in the process of acquiring.
IQE plc (IQE) states it is “pleased we have met our expectations and commitments for H1 2022… the group's view of the full year remains unchanged”. With it describing itself as “the leading supplier of compound semiconductor wafer products and advanced material solutions to the global semiconductor industry”, this good news then?